Since the end of 2017, the use of the crypto trade bot has been actively growing – more and more people are discovering digital currency trading, and many of them are using appropriate trading applications, and against this background, traders often switch to leveraged trading. Have you also thought about trying to trade – manually on the exchange or using a bot? Congratulations, you’re trending. Why are bots so popular? Here are five reasons.
1. They are great for beginners.
With the soaring price of Bitcoin (Bitcoin) in December 2017, crowds flooded into cryptocurrencies and trading, and for a beginner, a trading bot is a great way to “feel” the market and understand how it works. Trading bots are very easy to use these days. Profit Trailer, Gunbot, HaasBot, Cryptohopper and Gekko are great for beginners in particular – they are convenient and reliable, and if you’ve never traded before, this is a good place to start. And that is why so many people start exploring the cryptocurrency market with bots.
2. Trading bots are effective
The fact is that bots are much faster and more efficient than humans – they perform complex calculations in a split second, playing a huge role in trading; for example, bots make 99% of all transactions on Wall Street. For the bot, you can purchase a special set of settings, compiled by an expert and allowing you to trade in a variety of market conditions.
3. Saving time
When trading cryptocurrency manually, you are forced to constantly monitor the state of the market, and this not only takes time and patience, but also often turns into serious stress. With a trading bot, you have to sit at the computer much less, which means you can spend the freed up time on other things or leisure.
4. Round-the-clock trading
If you trade manually, the time when you can devote yourself to the market is inevitably limited – few people want to follow the movement of charts at 3 am, and if you do this, it can affect your health. And the bot does not sleep and does not get tired – and this is one of its most important advantages. The main strategy for trading with a bot is small purchases of altcoins, waiting for a couple of percent growth, and then exiting back to BTC. For this tactic to be effective, it is important to monitor the state of the market around the clock, so that the vast majority of traders use bots. To keep the bot from stopping, you can either not turn off the computer, or buy space on the virtual server and not waste electricity at home.
5. Additional income
For many, cryptocurrency trading with a bot is becoming an additional source of income, and perhaps it is thanks to such people that we have seen a rise in the popularity of bots in the past few months. If you already have some experience with cryptocurrencies, but want to try something more interesting than just buying bitcoins as a long-term investment, starting a bot is a good step.
Firstly, additional income will not hurt anyone, and secondly, by trading in this way, you will gain a better understanding of how the market behaves, learn the features of different altcoins and learn to feel new trends.
As you can see, bots are used more and more, and this phenomenon has a simple explanation: they are simple and effective, and with their help you can not only make a profit, but also learn a lot.
